The business software company founded by Bitcoin devotee Michael Saylor disclosed in a Wednesday filing with the Securities and Exchange Commission that it had purchased 1,045 Bitcoin for about $29.3 million in cashan average price of around $28,016.
MicroStrategys recent purchase puts the companys total Bitcoin holdings at about 140,000, worth about $4 billion and bought at an average price of $29,803, according to a Wednesday tweet by Saylor.
MicroStrategy has acquired an additional 1,045 #bitcoin for ~ $29.3M at an average price of $28,016 per bitcoin. As of 4/4/2023 @MicroStrategy holds 140,000 bitcoin acquired for ~$4.17 billion at an average price of $29,803 per bitcoin. $MSTR https://t.co/IBufTxalnv
Michael Saylor (@saylor) April 5, 2023
Crypto Twitter, and especially Bitcoin fans, immediately jumped to congratulate Saylor and MicroStrategy, both of which have been long-time hodlers of the cryptocurrency.
Microstrategy every two days: pic.twitter.com/qFi58Xn1mA
Nosh (@0xnosh) April 5, 2023
Microstrategy now owns 0.666% of all #bitcoin that will ever exist. Beast mode by @saylor
Bitcoin for Freedom (@BTC_for_Freedom) April 5, 2023
In December, the company sold off Bitcoin for the first time704 at an average price of $16,776, collecting $11.8 millionaccording to an SEC filing.
The period in which MicroStrategy made the multimillion-dollar purchase (March 24 to April 4) overlapped with a massive sale by the U.S. government, which offloaded $215 million in Bitcoin seized from an alleged hacker in a case centered around the Silk Road online black market.
US gov sells, MicroStrategy buys pic.twitter.com/MMIz1y2Oxp
SIDNΞY SWIFT (@sidneyswift) April 5, 2023
Defendant James Zhong was accused of, and later pleaded guilty to, wire fraud for illegally obtaining 50,000 Bitcoin from the Silk Road marketplace. The government seized the digital assets, and even after last weeks selloff still has just over 41,000 remainingworth more than $1 billion as of Wednesday.
Bitcoin has been on a tear since the start of the year, skyrocketing 73% in the first three months of 2023, its best quarter in two years, according to CoinDesk.
The worlds most popular cryptocurrency outperformed three major indexesthe S&P 500, the Dow Jones Industrial Average, and the Nasdaqin the first quarter as some analysts said it regained its edge as a store of value similar to golds.
Bitcoin was trading just below $28,000 on Wednesday, down half-a-percent over the past 24 hours, according to CoinMarketCap.